Federal tax credits can cover up to $150,000 per employer, but to receive the maximum federal tax credit, businesses have to spend at least $600,000, Abrams told the committee.
The following article was originally published in the Ohio Capital Journal and published on News5Cleveland.com under a content-sharing agreement.
House Bill 576 Joined by fellow Rep. Cindy Abrams, R-Harrison, White brought House Bill 576, which would supplement federal tax credits “associated with acquiring, constructing, rehabilitating or expanding property used as the employer taxpayer’s qualified child care facility,” operating expenses for child care workers and “qualified resource and referral expenditures,” which can include contracts with child care facilities.
House Bill 577 Tax credits for parents would fall under a different bill sponsored by White, House Bill 577. That bill would bring Ohio up to par with 30 other states currently allowing a child care tax credit for parents. “It’s kind of like, you can have the job, but if you don’t have the skills to get the job and you don’t have the transportation or the child care to ensure that you can make it to work every day, we will never be able to fill these jobs that we have been so fortunate to attract in Ohio,” White said.
Child care advocates have often decried a lack of affordability for child care, even for those who work in the field. H.B. 578 would create a nonrefundable tax credit for Ohioans who “make a financial contribution to a qualified child care provider, including family home or center-based child care providers and day camps,” according to White.Donors won’t be allowed credit for payments to their own child care providers, but employers can get a discount on employee child care rates as incentive for donations under the bill.
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